Zagreb Bank, starting today, April 1, reduces interest rates on most of its commercial loans for small entrepreneurs and craftsmen (with annual total revenues up to 15 million kuna) in the range of 0.5 to 1 percent and additionally provides entrepreneurs with new favorable credit lines, the bank reported.
The mentioned lower interest rates, which will apply not only to the new offer but also to existing business loans, are a result of cheaper sources of financing and a decline in reference interest rates, according to ZABA. This is the third adjustment of interest rates since the beginning of 2010, with a total adjustment exceeding 4 percent, the most significant drop being in interest rates on loans in kuna. As of today, the total range of interest rates on business loans is between 6.8 and 9.9 percent, depending on the type of loan, client segment, individual business cooperation with the bank, timely servicing of obligations, as well as the purpose and term of financing.
As before, variable interest rates on business loans are subject to quarterly changes, based on the movements of the reference interest rate and the bank’s pricing, which includes the country’s credit risk (CDS). ZABA announces that it will soon begin to implement the recently signed agreement with the European Investment Bank, which has granted Zagreb Bank a long-term loan of 100 million euros for even more favorable financing of small and medium-sized enterprises and projects in the public legal sphere. Zagreb Bank operates with approximately 80,000 registered craftsmen and small entrepreneurs, as well as professionals in freelance occupations. (H)
